_____ gives the slope of an isocost line where labor (L) and capital (K) are the two inputs measured on the X and Y axes respectively
a. The ratio of the marginal product of capital to the marginal product of labor, with a negative sign,
b. The ratio of price of labor to the price of capital, with a negative sign,
c. The ratio of the price of capital to the price of labor
d. The ratio of the marginal product of labor to the marginal product of capital
B
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Explain why the costs of most services like haircuts and college education have risen at a faster rate relative to the costs of manufactured goods?
What will be an ideal response?
Which of the following transfer programs in the U.S. is funded by a national tax but administered by state governments?
a. Social security b. Veterans' Administration Benefit program c. Unemployment insurance d. Food stamps e. National Guard activities
Since World War II, there has been a worldwide movement away from free trade policies
a. True b. False
Unions typically ____ deregulation because it generally makes pricing ____ competitive
a. oppose; more b. oppose; less c. support; more d. support; less